SVP Worldwide
| Company type | Private |
|---|---|
| Industry | Sewing machines |
| Predecessor | Kohlberg & Company |
| Founded | 2004 |
| Headquarters | |
Key people | Carl-Martin Lindahl (CEO) |
| Owner | Platinum Equity |
| Website | svpworldwide |
SVP Worldwide is an American privately held company that designs, manufactures, and distributes consumer sewing machines and accessories around the world under three brands: Singer,[1] Husqvarna Viking, and Pfaff.[2]
The company's corporate headquarters is located in Nashville, Tennessee, and is supplemented by regional headquarters and sales offices located in Milan (Italy), São Paulo (Brazil), and Sydney (Australia).[3]
Via its affiliates, SVP operates in more than 180 countries.[4]
The company has its central R&D, sales, and customer service employees in the Huskvarna/Jönköping region of Sweden with support teams in Shanghai, London and Nashville.[3]
History
[edit]SVP was formed when Kohlberg & Company, an American private equity firm that owned the Swedish VSM Group (owner of the Husqvarna Viking and Pfaff sewing machine brands), combined VSM with Singer,[5] which it acquired in 2004 for $134 million.[6] The company was founded in 2006[2] and was formerly headquartered in Hamilton, Bermuda.[7]
In 2018, Kohlberg & Company sold SVP Worldwide to Ares Management, a publicly traded global asset manager based in Los Angeles.[7]
In 2020, SVP's subsidiary Singer reported an increase in machine sales due to the COVID-19 pandemic. In response, the company released a variety of patterns for DIY reusable face masks.[8] Also in 2020, SVP collaborated with the Amazon Prime show Making the Cut.[9]
In 2021, SVP unveiled an upcoming sewing machine, the Pfaff Creative Icon 2, which will operate with artificial intelligence functions.[10] Also in 2021, SVP was acquired by Platinum Equity.[11]
See also
[edit]References
[edit]- ^ Klooster, John (2009). Icons of Invention: The Makers of the Modern World from Gutenberg to Gates. Greenwood Press. p. 185. ISBN 9780313347436.
- ^ a b Oran, Olivia (12 March 2014). "Exclusive: Kohlberg looking to sell Singer sewing machine company - sources". Reuters. Retrieved 28 November 2019.
- ^ a b "SVP Worldwide Announces Its New Research and Development Facility in Huskvarna/Jönköping area in Swe – SVP Worldwide". www.svpworldwide.com. Archived from the original on 2020-01-26.
- ^ "Locations". SVP Worldwide. Retrieved April 25, 2021.
- ^ Buckman, Jack (2016). Unraveling The Threads: The Life, Death and Resurrection of the Singer Sewing Machine Company, America's First Multi-National Corporation. Dog Ear Publishing. pp. 269–270. ISBN 9781457546617.
- ^ "Kohlberg Unit Buys Singer Brand and Business". The New York Times. October 2, 2004. Retrieved December 20, 2019.
- ^ a b "About – SVP Worldwide", Svpworldwide.com, retrieved December 20, 2019
- ^ Koncius, Jura (July 1, 2020). "The pandemic-fueled demand for masks has reignited interest in an age-old skill". The Washington Post. Retrieved April 25, 2021.
- ^ Tschorn, Adam (April 17, 2020). "Our fashion critic reviews 'Making the Cut's' winning looks: 'Coachella-worthy'". Los Angeles Times. Retrieved April 25, 2021.
- ^ McClatchie, Chrissie (February 15, 2021). "A Stitch in Time: Carl-Martin Lindahl". The CEO Magazine. Retrieved April 25, 2021.
- ^ "Platinum Equity Completes Acquisition Of Global Sewing Machine Manufacturer SVP Worldwide". PR Newswire. August 2, 2021.
External links
[edit]- American companies established in 2004
- Manufacturing companies established in 2004
- Privately held companies based in Tennessee
- Sewing machine brands
- Home appliance manufacturers of the United States
- Manufacturing companies based in Nashville, Tennessee
- Kohlberg Kravis Roberts companies
- 2018 mergers and acquisitions
- 2021 mergers and acquisitions
- Private equity portfolio companies